Oct 26, 2012 4:30pm PDT
in the first place. >> tom: in cities across the u.s., the biggest mortgage lender, wells fargo looking to mend its image after accusations it steered minority homebuyers into sub-prime loans. the bank's strategy is to help certain home buyers with their down payments. as diane eastabook reports cities like chicago are hoping the grants could be a first step in turning around distressed neighborhoods. >> all of you out there probably know what your numbers are. >> reporter: these chicagoans are lining up for what could be a chance of a lifetime. they're applying for $15,000 grants to be used for the purchase of a home. the money is coming from wells fargo and it's part of multi- million dollar national fair lending settlement between the bank, the u.s. justice department, and several states including illinois. >> the programs desire and intent was not only to spark not only the market, but to spark people's imagination to get them interested in buying a home again. >> reporter: the $8 million set aside for the chicago grants could help revitalize neighborhoods hard hit by the housing crisis. to
Oct 24, 2012 4:30pm PDT
to be a shift in preferences among young, potential homebuyers to live closer to the city or in the first ring of suburbs. many of them are looking to stay in apartments living rather than having a home further out where they need a car to get any where. they would have more of a mortgage they would be tied into. >> reporter: on the flip side, public spending on construction has fallen sharply. it's down 3.5% from a year ago, as state and local governments tighten their belts. the construction industry is hoping next year will be better for hiring than this one. many u.s. businesses have put projects on hold, due to political uncertainty, and worries about the fiscal cliff. but the most important factor is the economy: >> you might expect that as the housing recoery gets a little bit of pace ov theext ar or so, that should translate into stronger hiring going forward. we are not going to return to levels we were at before the recession, the housing sector is not going to be that big again. but the trend should be up. >> reporter: if construction improves, it's good for the economy as a whole.
Oct 17, 2012 4:30pm PDT
of freelancers continues tomorrow in new york city. where they're breaking ground on the first medical facility dedicated to freelance workers. we'll show you why it's not like your typical doctor's office. also tomorrow, some big earnings after the bell, microsoft and google. we'll have results. >> susie: if you watched last night's presidential debate, you heard both president obama and governor romney talk about their efforts to help small businesses. but when it comes to creating jobs, tonight's commentator says not all small businesses are created equal. here's "inc." editor-in-chief, eric schurenberg. >> reporter: you may not have a clue about economics, but if you've been listening to politicians this year, you know one thing: small businesses create jobs. clear the way for mom-and-pop owners and we'll be back at 4% unemployment in no time. only probleis, that's wrong now, small businesses are great, but it should be obvious that putting a dry cleaner or a real estate broker on every corner is not going to save the economy. like big companies, the vast majority of small businesses dest
Oct 18, 2012 6:30pm PDT
brooklyn for its first medical facility. the number freelancers inan this new york city borough hasn increased 3,000% in the past decade. david himmelstein is a professor of public health at hunter llege, and thinks the clinic is a good idea. his concern is whether the union's insurance plan can llsurvive.s >> when you set up an insurance plan and say anyone can join, basically you are likely to attract sick older people who can't get insurance elsewhere in the system. and over the long term, that has doomed simir insurance efforts in the past. >> reporter: but the freelancers union hopes its holistic approach to medicine and emphasis on preventive care will help lower healthcare costs.ra and that's good for insurance company and patient alike. >> this can really give people the kind of care they need, and it omn also be much more economical, so we can make freelancers' dollars go further. >> reporter: if the pilot is successful, the freelan ers eeunio hopes un exp ed to other cities around the country.d erika miller, nbr, brooklyn. >> tom: tomorrow on nbr, we meet a woman who says s
Oct 23, 2012 4:30pm PDT
, central park is 155 years old. paulson called central park the most deserving of all the city's cultural institutions, and said his grandparents had their first date there. paulson's known for making billions by betting on the collapse of the housing market. >> susie: lovely donation. >> tom: that's "nightly business report" for tuesday, october 23. good night, susie, and good night, everyone. >> susie: good night, tom. thanks for watching, everyone. we'll see you online at nbr.com, and back here tomorrow night. captioning sponsored by wpbt captioned by media access group wgbh access.wgbh.org >> join us anytime at nbr.com. there, you'll find full episodes of the program, complete show transcripts and all the market stats. also follows us on our facebook page-- bizrpt. and on twitter @bizrpt.
Oct 31, 2012 4:30pm PDT
into the metro-new york city area? >> good afternoon. it's a great news story for fedex. we've restarted our air operation into the newark metro area. and, in fct, w were the first jets to land in newark this morning, and since then, we've put over a dozen airplanes into that and j.f.k. >> susie: la guardia is still under water, how that is impacting your operations? >> we don't have scheduled operations into la guardia, we're scheduled in j.f.k. and newark. so we're in good shape in j.f.k., but our people are at work and sorting packages. >> susie: even though the planes are getting in, and the fedex messengers are getting out, there's a lot of that don't have power. how do you know whether you should be delivering a package or not? is this slowing you down? >> it is slowing us down. our team members are affected by the same transportation limit anticipations as everyone else in the region, and our fedex delivery stations are located in the neighborhood in which they deliver, so they have a good sense of what's available to deliver to. fedex also offers a service whereby y n actually ask for yo